K. Seng Seng Corporation Berhad entered into a term sheet to acquire Senshin Seimitsu Sdn Bhd from Low Kim Yoong on February 22, 2023. The purchase consideration is to be satisfied wholly by cash from the proceeds raised from the Proposed Private Placement. The deal is subject to consummation of due diligence and approval from regulatory board, shareholders of KSSC and directors and shareholders approval of Senshin Seimitsu.